Steel Authority of India Limited (SAIL) is considering an investment of Rs 20,000-24,000 crore to establish a four-million-tonne greenfield steel plant at its IISCO plant in West Bengal.

The company aims to produce high-end flat hot rolled coil (HRC), including for automotive applications, at its existing site in Burnpur. In-principle approval for the project has been granted.

Brijendra Pratap Singh, the director-in-charge of the IISCO steel plant, confirmed that they have received in-principle approval for the greenfield plant, which will focus on producing flat HR coils, targeting grades such as API (American Petroleum Institute) and automotive, among others.

While board approval is still pending, it is expected to be granted shortly. The exact capital expenditure (capex) and investment details will be finalized after the tendering process.